NAA Industry Insider: Why Blackstone Is Betting Big on Apartments

Blackstone Group is carving out a new company to own apartments, betting demand will outpace supply for at least three more years. The firm is hunting for new acquisitions to expand LivCor, a Chicago-based company formed last year from the purchase of stakes in 71 apartment communities valued at $2.4 billion. Blackstone is concentrating on suburban areas where there has not been as much new construction, including in the Southeast and in Texas.